Company B began 2013 with a $110,000 balance in retainedearnings. The following events occurred during the year:
1. Cash dividends of $18,500 were declared.
2. 4,500 shares of callable preferred stock were recalled and retired for a price of $225 per share. The stock was originally issued for $150 per share.
3. N

All revenue and expense accounts have been closed at the end of the calendar year for Spehr Company. The Income Summary account has total debits of $500,000 and total credits of $650,000. As of the same date, RetainedEarnings has a balance of $115,000, and Dividends has a balance of $60,000.
Instructions
(a) Prepare a reta

My company showed retainedearnings of $400,000 on its balance sheet last year. This year, the company's earnings per share (EPS) were $3.00 and its dividends paid per share (DPS) were $1.00. The company has 200,000 shares of stock outstanding. Showing the computations what is the level of retainedearnings on the company's ba

Please provide input.
1. Last year, Jefferson Motors had retainedearnings of $710,000 at the end of the year. This year, Jefferson paid a dividend of $55,000 and its end of the year retainedearnings was $780,000. What was the net income of Jefferson motors?
2. In your opinion if the firm has a high retainedearnings bal

Please help with the following accounting problem.
For the following four cases, compute the ending amount of retainedearnings. Provide step by step calculations. Caution: Not all of the items listed should be included in the computation of ending retainedearnings.
Case A Case B Case C Case D
Cost of goods sold

On 12/31/10, Heaton Industries Inc. reported retainedearnings of $675,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/09, the company had reported $555,000 of retainedearnings. No shares were repurchased during 2010. How much in dividends did

Retainedearnings at 1/1/10 was $100,000 and at 12/31/10 it was $210,000. During 2010, cash dividends of $50,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retainedearnings.
You are to provide the missing closing entry. Please indicate DR (debit) or CR (credit) to the left